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Lufthansa, Aer Lingus Feel Pinch

By

Jan Hromadko and

Quentin Fottrell

Updated March 12, 2009 12:01 a.m. ET

European carriers Deutsche Lufthansa AG and Aer Lingus Group PLC on Wednesday reported lackluster 2008 earnings and warned of further deterioration to their business in 2009, as the global economic slowdown continues to bite.

The results show that even airlines in relatively strong financial shape such as German flag carrier Lufthansa are feeling the pinch as business-travel budgets are hit and consumers delay nonessential trips.